Faculty Publications

Forthcoming Publications

Hedge Fund Crowds and Mispricing,” Bela Reca, Richard Sias and Harry Turtle, Management Science, forthcoming.

"Asset-pricing anomalies at the firm level," Scott Cederburg and Michael S. O'Doherty, forthcoming in Journal of Econometrics.

"Market Evolution: 1996-2010," Anne M. Anderson and Edward A. DylThe Journal of Trading, forthcoming.

"Lawyers and Fools: Lawyer-Directors in Public Corporations,” Lubomir Litov, Simone Sepe and Charles Whitehead, Georgetown Law Journal, Vol. 102, forthcoming.

2014 Publications

Industry concentration and corporate disclosure policy,” with Ashiq Ali and Eric Yeung, Journal of Accounting and Economics, Vol. 58, No. 2, 2014, 240-264.

“Market Evolution: 1996-2012,” A. Anderson and E. DylJournal of Trading, Winter 2014.

Declining propensity to pay?  A re-examination of the lifecycle theory,” Monica Banyi and Kathleen Kahle, Journal of Corporate Finance, Vol.27, August 2014, 345-366.

Refinancing risk and cash holdings,” Jarrad Harford, Sandy Klasa and William Maxwell, Journal of Finance, Vol. 69, No. 3, 2014, 975-1012. [Lead Article – June Issue]

The effect of demand for shares on the timing and underpricing of seasoned equity offerings,” Vincent Intintoli, Kathleen Kahle and Shrikant Jategaonkar, Financial Management, 43, no. 1,Spring 2014, 61-86.

2013 Publications

Access to capital, investment, and the financial crisis,” Kathleen M. Kahle and René Stulz, Journal of Financial Economics, 2013, Vol. 110 (2), 280-299. [Lead Article]

2012 Publications

"Corporate Strategy, Analyst Coverage, and the Uniqueness Paradox," Lubomir Litov, Patrick Moreton and Todd Zenger, Management Science2012, Vol. 58, No. 6, 1-19.

Why does Financial Strength Forecast Stock Returns? Evidence from Subsequent Demand by Institutional Investors,” Nicole Choi and Richard Sias, The Review of Financial Studies, May 2012, Vol. 25, Issue 5, 1550-1587.

Corporate suppliers and customers and accounting conservatism,” Kai Wai Hui, Sandy Klasa and Eric Yeung, Journal of Accounting and Economics, Vol. 53, No. 1, 2012, 115-135.

2011 Publications

"Creditor Rights and Corporate Risk-Taking," Viral Acharya, Yakov Amihud and Lubomir Litov, Journal of Financial Economics, 2011, Vol. 102, 150-166.

Portfolio Diversification,” James Bennett and Richard Sias, Journal of Investment Management, Volume 9, number 3, 2011, pp. 74-98.

2010 Publications

"Can Mutual Fund Managers Pick Stocks? Evidence from Their Trades Prior to Earnings Announcements," Malcolm Baker, Lubomir Litov, Jessica Wachter and Jeffrey Wurgler, Journal of Financial and Quantitative Analysis, 2010, Vol. 45, 1111-1131. [Winner of the William Sharpe Award for the best paper published in 2010 in the Journal of Financial and Quantitative Analysis.]

"Managerial Entrenchment and Capital Structure: New Evidence," Kose John and Lubomir Litov, Journal of Empirical Legal Studies, 2010, Vol. 7, 693-742.

Insider Trades and Demand by Institutional and Individual Investors,” Richard Sias and David Whidbee, Review of Financial Studies, Volume 23, number 4, 2010, pp. 1544-1595.

Seasoned equity offerings: the effect of inside ownership and float," Vincent Intintoli and Kathleen Kahle, Financial Management, Vol. 39, No. 4, 2010, 1575-1599.

Style Timing with Insiders,” Richard Sias, Heather Knewtson and David Whidbee, Financial Analysts Journal, Volume 66, number 4, 2010, pp.46-66.

Determinants of CEO pay: A comparison of ExecuComp and non-ExecuComp firms,” Brian Cadman, Sandy Klasa and Steve Matsunaga, Accounting Review, Vol. 85 No. 5, 2010, 1511-1543.

Why Susie Owns Starbucks: The Name Letter Effect in Security Selection,” Richard Sias and Heather Knewtson, Journal of Business Research, Volume 63, number 12, 2010, pp. 1324-1327.

2009 Publications

Institutional Industry Herding,” Richard Sias and Nicole Choi, Journal of Financial Economics, Volume 94, number 3, 2009, pp. 469-491.

Why Do U.S. Firms Hold so Much More Cash than They Used to?” Thomas W. Bates, Kathleen Kahle and Rene Stulz, Journal of Finance, Vol. 64, no. 5, October 2009, 1985-2022. [Lead Article]

The limitations of industry concentration measures constructed with Compustat data: Implications for finance research,” Ashiq Ali, Sandy Klasa and Eric Yeung, Review of Financial Studies, Vol. 22 No. 10, 2009, 3839-3871. [Lead Article – October Issue]

"Earnings Persistence," Richard Frankel and Lubomir Litov Journal of Accounting and Economics, 2009, Vol.47, 182-190.

Measuring abnormal bond performance,” Hendrik Bessimbinder, Kathleen Kahle, William Maxwell and Danielle Xu, Review of Financial Studies, Vol. 22, no. 10, October 2009, 4219-4258.

"Socially-oriented ventures and traditional entrepreneurship education models: A case review," M.M. Mars and Sharon Garrison, Journal of Education for Business, Volume 84, Issue 5, May 2009, pages 290-296. [Forthcoming in a collection of papers, Social Enterprise.]

"Do firms have leverage targets? Evidence from acquisitions,” Jarrad Harford, Sandy Klasa and Nathan Walcott, Journal of Financial Economics, Vol. 93, No. 1, 2009, 1-14. [Lead Article – July Issue]

"The strategic use of corporate cash holdings in collective bargaining with labor unions,” Sandy Klasa, William Maxwell and Hernan Ortiz-Molina, Journal of Financial Economics, Vol. 92, No. 3, 2009, 421-442.